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Side-by-side financial comparison of HeartSciences Inc. (HSCS) and Cartesian Therapeutics, Inc. (RNAC). Click either name above to swap in a different company.
Meril Life Sciences is an Indian multinational medical device company, with headquarters in Vapi, Gujarat, India. It was founded in 2006 and is a part of the Bilakhia Group. The company is engaged in the manufacturing of vascular intervention devices, orthopedic implants, robotics, endosurgery, ENT products and in-vitro diagnostics. Meril Life Sciences operates in over 150 countries and has employed 10000 people, as of 2024.
Cartesian Therapeutics is a clinical-stage biopharmaceutical company specializing in RNA-engineered cell therapies for oncology, autoimmune disorders and rare diseases. It operates primarily in the U.S. market, focusing on next-generation CAR-T and immune cell therapies, advancing multiple candidates through mid-stage clinical trials with leading medical research partners.
HSCS vs RNAC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.4K | $0 |
| Net Profit | $-2.4M | $-92.6M |
| Gross Margin | 58.3% | — |
| Operating Margin | -85713.2% | — |
| Net Margin | -97179.4% | — |
| Revenue YoY | — | — |
| Net Profit YoY | -12.9% | -802.9% |
| EPS (diluted) | $-0.85 | $-3.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.4K | $0 | ||
| Q3 25 | $1.9K | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | $0 | — | ||
| Q4 24 | — | $-836.0K | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | $14.7K | $5.8M |
| Q4 25 | $-2.4M | $-92.6M | ||
| Q3 25 | $-2.1M | $-35.9M | ||
| Q2 25 | — | $15.9M | ||
| Q1 25 | $-2.5M | — | ||
| Q4 24 | — | $-10.3M | ||
| Q3 24 | — | $-24.2M | ||
| Q2 24 | — | $13.8M | ||
| Q1 24 | $-1.6M | $-56.8M |
| Q4 25 | 58.3% | — | ||
| Q3 25 | 60.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 69.0% | — |
| Q4 25 | -85713.2% | — | ||
| Q3 25 | -98637.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3197.5% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 41.3% | ||
| Q1 24 | -10376.7% | -228.6% |
| Q4 25 | -97179.4% | — | ||
| Q3 25 | -108157.6% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1226.4% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 41.6% | ||
| Q1 24 | -11182.4% | -973.0% |
| Q4 25 | $-0.85 | $-3.46 | ||
| Q3 25 | $-1.58 | $-1.38 | ||
| Q2 25 | — | $0.50 | ||
| Q1 25 | $-2.57 | — | ||
| Q4 24 | — | $6.60 | ||
| Q3 24 | — | $-1.13 | ||
| Q2 24 | — | $0.54 | ||
| Q1 24 | $-3.01 | $-10.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.0M | $125.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.2M | $-126.2M |
| Total Assets | $6.0M | $296.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0M | $125.1M | ||
| Q3 25 | $2.8M | $143.4M | ||
| Q2 25 | — | $160.3M | ||
| Q1 25 | $2.6M | — | ||
| Q4 24 | — | $212.6M | ||
| Q3 24 | — | $219.2M | ||
| Q2 24 | — | $87.2M | ||
| Q1 24 | $7.1M | $103.4M |
| Q4 25 | $4.2M | $-126.2M | ||
| Q3 25 | $3.1M | $-35.8M | ||
| Q2 25 | — | $-2.5M | ||
| Q1 25 | $1.8M | — | ||
| Q4 24 | — | $-6.8M | ||
| Q3 24 | — | $752.0K | ||
| Q2 24 | — | $-101.5M | ||
| Q1 24 | $8.6M | $-116.8M |
| Q4 25 | $6.0M | $296.4M | ||
| Q3 25 | $6.4M | $372.7M | ||
| Q2 25 | — | $388.9M | ||
| Q1 25 | $5.7M | — | ||
| Q4 24 | — | $435.0M | ||
| Q3 24 | — | $455.3M | ||
| Q2 24 | — | $347.7M | ||
| Q1 24 | $10.8M | $325.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.3M | $-17.7M |
| Free Cash FlowOCF − Capex | — | $-18.2M |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-62.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.3M | $-17.7M | ||
| Q3 25 | $-2.0M | $-15.6M | ||
| Q2 25 | — | $-17.5M | ||
| Q1 25 | $-1.6M | — | ||
| Q4 24 | — | $-7.0M | ||
| Q3 24 | — | $13.7M | ||
| Q2 24 | — | $-14.4M | ||
| Q1 24 | $-2.1M | $-15.9M |
| Q4 25 | — | $-18.2M | ||
| Q3 25 | — | $-16.9M | ||
| Q2 25 | — | $-20.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-7.7M | ||
| Q3 24 | — | $7.5M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | $-2.1M | $-16.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 921.9% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -48.2% | ||
| Q1 24 | -14352.1% | -282.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -84.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.8% | ||
| Q1 24 | 59.8% | 10.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -1.10× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.04× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
